Use Ten sale to push media reform: Hinch

Labor leader Bill Shorten, in welcoming the announcement on Monday, said there was no need to tamper with media diversity laws given the coalition used Ten's plight to push its bid to scrap the so-called two-out-of-three rule.

But crossbencher Derryn Hinch, a former broadcaster, told his Twitter followers he thinks otherwise.

"Govt should use CBS buying Ten to push even harder for media reforms to help locals get level playing field," he tweeted.

With Labor set to oppose the package in the Senate, the government is still negotiating with the Nick Xenophon Team to secure its passage.

Senator Xenophon wants tax subsidies for media outlets with an annual turnover of up to $25 million to boost support for public interest journalism, among other things.

Communications Minister Mitch Fifield on Monday would not comment specifically on the proposed Ten deal as it was still subject to a number of approvals.